The property market is slowing down so home owners are negotiating, and banks are definitely eager to make loans, but that doesn’t mean you should throw caution to the wind.
So, here a few rules we think you should follow when looking into buying (in any market condition).
1. DO YOUR HOMEWORK
Do not make offers unless you know exactly what you are getting into.
Going through an experienced real estate agent can provide you with lots of detailed information that could really be useful in making an offer: agents can help you do extensive market research so that you know exactly how many sales have been in the area in question and how much those properties sold for, they can also show you the length of time the properties have been on the market and what the average property cost is in your area, along with so much more information that will help you make the best possible offer for you, the seller and your pocket.
If you go through an experienced agent, it can really help you determine if this is the best property for you and/or help you find other properties that might be more worth your while.
2. NEGOTIATION AND THINGS.
First of all, buyer should always try and negotiate the price on a promising property, but at the end of the day, should think about avoiding a property if the price goes way to low. #RedSignals
You might think that you have found your dream home for such a dreamy price, but when the other shoe drops and your dream home ends up having many costly and not so dreamy repairs that need to be done, you might be a little (for lack of a better word) screwed.
Using a real estate agent can seriously help you avoid such scenarios as they do thorough inspections and understand the “complicated” terms and hidden meanings behind what the seller might be hiding from you.
3. LOCATION, LOCATION, LOCATION.
Today we are very spoiled with so many options for ideal areas to live in, but we are also very cautious of price.
So, in trying to find the best home in the best area, many buyers get lost in “bargains” and end up in an area they are not actually happy in, and these traps often wind up costing you a lot more in the long run, than what you saved in the initial “bargain”.
Having an experience estate agent on your side will end up saving you a lot and placing you where you will be happiest.
By being more prepared and sticking to some of our guidelines you may very well end up in the best situation.